Shell announces $3 billion share buyback despite missing Q2 earnings expectations and reporting a sharp revenue decline.
Shell posted Q2 non-GAAP earnings per share of $1.76, missing estimates by $1.42. Revenue fell 44.7% year-over-year to $94.66 billion, though it exceeded expectations by $10.82 billion.
The company’s revenue decline reflects broader sector challenges, with prior-year comparables showing stronger performance. Analysts had anticipated a softer print amid volatile energy markets.
Shell also announced a $3 billion share buyback program, aligning with its policy to distribute 40-50% of cash flow from operations through the cycle.